Mali awards US$11bn railway project to Chinese companies
The Mali government has entered into a US$11-bn contract with Chinese companies to boost Mali’s economy and service delivery to its citizens. The project will upgrade the already existing railway linking Mali to Senegal.
The railway construction project, to commence next year, will be undertaken by China Railway Engineering Corporation and China Railway Construction Corporation. The two companies now have one year to submit detailed proposals to see Chinese banks fund the projects.
The improved transport in Mali will attract investors to explore resources such as iron ore, bauxite and uranium that are bulkier and more costly to transport than gold.